BlackBerry beats by $0.08, misses on revs with 1.3 mln smartphones; reaffirms target for FY16 non-GAAP profitability (shares halted -- will resume at 7:30 ET)
Reports Q4 (Feb) earnings of $0.04 per share, excluding non-recurring items, $0.08 better than the Capital IQ Consensus Estimate of ($0.04); revenues fell 32.4% year/year to $660 mln vs the $778.38 mln consensus.
- The revenue breakdown for the quarter was ~42% for hardware, 47% for services and 10% for software.
- During the fourth quarter, the Company recognized hardware revenue on ~1.3 mln BlackBerry smartphones. ~1.6 mln BlackBerry smartphones were sold through to end customers (Street ests near ~1.9 mln), with an ASP of $211 compared to $180 in the previous quarter.
- Non-GAAP gross margin of 48.3%, with a third consecutive quarter of positive hardware gross margin.
- Outlook: The Company continues to anticipate positive free cash flow. The Company is expanding its distribution capability, and expects traction from these efforts to manifest some time in fiscal 2016. The company continues to target sustainable non-GAAP profitability some time in fiscal 2016.